Antioxidants Cooperation to End

Ulsan, Korea, September 15, 2006 - Songwon Industrial Co., Ltd. and Clariant International Ltd. (Muttenz, Switzerland) announced today that they mutually agreed to end their cooperation in antioxidants after many years of a successful partnership as of January 31, 2008. The decision follows as a result of a strategic re-orientation of both companies based on the global market development.

Until January 2008 Clariant group will continue to distribute antioxidants (1010, 1076, and 168 type) and related blends produced by Songwon Industrial. After the termination of the existing agreement, Clariant and Songwon will pursue their activities in antioxidants for the polymer markets independently.

Following this announcement, each company will communicate its own strategic approach individually to the market.

About Songwon Industrial Co., Ltd.

Songwon Industrial Co., Ltd. is a leading producer of antioxidants and heat stabilizers for the plastics industry, as well as plasticizers, lubricants, surface coating agents, polyurethane, antioxidants, alkyl phenols, biphenol, flocculants and other chemicals.

About Clariant

Clariant is a global leader in the field of specialty chemicals. Strong business relationships, commitment to outstanding service and wide-ranging application know-how make Clariant a preferred partner for its customers. Clariant's Plastics Business is a global player in pigments and additives for the polymer industry.

Reader enquiries

Songwon Industrial Co., Ltd.
Walzmühlestrasse 48
8500 Frauenfeld
Switzerland

+41 52 635 0000

marketing@​songwon.com

www.songwon.com